Dominion ENERGY, Inc. (D) intrinsic value & 10-year financials
Dominion ENERGY, Inc. (D) has a Graham intrinsic value of $25.48 per share. At $63.56 on Oct 17, 2026, the stock trades 149% above that value. Over the last 10 fiscal years revenue grew 3.9% a year to $16.5B, with an average return on invested capital of 4.7%.
- Graham intrinsic value
- $25.48
- Share price (Oct 17, 2026)
- $63.56
- Price vs Graham value
- 149% above
- Market cap
- $54.4B
- Revenue (FY2025)
- $16.5B
- Revenue growth (10-yr CAGR)
- 3.9%
- ROIC (10-yr avg)
- 4.7%
- Free cash flow (FY2025)
- —
D 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $16.5B | $3.0B | $3.45 | — | 26.7% | 5.5% |
| FY2024 | $14.2B | $2.1B | $2.44 | — | 22.9% | 4.5% |
| FY2023 | $13.5B | $2.0B | $2.29 | — | 25.3% | 4.3% |
| FY2022 | $17.7B | $994.0M | $1.09 | — | 9.0% | 2.4% |
| FY2021 | $14.2B | $3.3B | $3.98 | — | 21.3% | 4.2% |
| FY2020 | $13.8B | -$401.0M | -$0.57 | — | 14.9% | 3.2% |
| FY2019 | $13.7B | $1.4B | $1.62 | $224.0M | 18.3% | 3.2% |
| FY2018 | $10.9B | $2.4B | $3.74 | $519.0M | 33.1% | 5.5% |
| FY2017 | $12.6B | $3.0B | $4.72 | -$955.0M | 32.8% | 8.5% |
| FY2016 | $11.7B | $2.1B | $3.44 | -$2.0B | 30.9% | 6.0% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Dominion Energy has demonstrated mature, steady growth, with revenue compounding at 3.9% annually over the past decade.
Dominion Energy has historically struggled to out-earn its cost of capital, averaging just 4.7% ROIC.
Dominion Energy has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Dominion Energy is modeled at 0.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $25.48 per share.